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Showing posts from August, 2012

KLSE Strategy - 2QCY12 Earnings: Early Verdicts KLCI: 1,650.09

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Preliminary aggregate earnings inline with expectation (FBM KLCI 2012 Year-end Target: 1,600)
Aggregate earnings so far fell within expectation. As of yesterday, almost 36% of all stocks under the MIDFR Universe have released their 2QCY12 results. Based on these initial numbers, the aggregate actual earnings in 2QCY12 recorded a slight 1.5% negative variance against our aggregate estimated earnings. Nonetheless we opine the total earnings percentage shortfall was small enough for us to conclude that the 2QCY12 results have so far met our expectation.

MIDFR Universe: Aggregate earnings by sector (reported results as of 16 Aug 2012)Finance the main outperformer, Transport the biggest underperformer. Sectors which have thus far outperformed earnings expectations include Finance, Utility, Glove, Healthcare and Tobacco. On the other hand, Transport, Semiconductor, Automotive, Oil & Gas and Plantation sectors have hitherto produced materially less than estimated earnings figures. How…

FBM KLCI Weekly Technical Analysis 1308

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All markets inching up to new highs
  FBM KLCI – Inching up to re-test 1.647.94
  CPO Futures – Plunging towards MYR2,838 & MYR2,754
  DJIA – A re-test of the 13,338.66 resistance
  TDM – Firm double daily and weekly downtrends

FBM KLCI Weekly Chart (click to enlarge)Support: 1,609 to 1,645 Resistance: 1,647
Strategy:  The FBM KLCI rose 11.99 points to close at 1,645.36 last Friday. The local market rose on minor blue chip nibbling activities late last Thu and Fri. Volume remained range bound from 0.88b to 1.41b shares. Intra-day price action was boring and treaded water to minor positive
closes, especially last Thu and Fri.

The obvious support areas for the FBM KLCI are in the 1,609 to 1,645 zone. The next resistance level of 1,647 may witness some profit-taking activities. The FBM KLCI consolidated in a range of
801 to 936 from Oct 2008 to Apr 2009, but broke above its resistance of 936.63 (Wave a/B) in Apr 2009 and surged to a previous all-time h…

FBM KLCI Weekly Technical 070812

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Treading water in Malaysia, while global markets gyrate
  FBM KLCI – Rise ended at 1.647.94. Why is Malaysia still treading water?
  CPO Futures – Plunging towards MYR2,838 & MYR2,754
  DJIA – A re-test of the 13,338.66 resistance
  GENTING – Firm double daily and weekly downtrends
FBM KLCI Weekly Chart (click to enlarge)Support: 1,591 to 1,629 Resistance: 1,635 to 1,647
Strategy:  The FBM KLCI rose 10.10 points to close at 1,635.04 last Friday.  The local market rose on minor blue chip nibbling activities last week. Volume remained range bound from 0.95b to 1.35b shares. Intra-day price action was boring and treaded water to minor positive closes. The obvious support areas for the FBM KLCI are in the 1,591 to 1,629 zone. The next resistance
levels of 1,635 and 1,647 will witness heavy liquidation activities. The FBM KLCI consolidated in
a range of 801 to 936 from Oct 2008 to Apr 2009, but broke above its resistance of 936.63 (Wave
a/B) in Apr 2009 a…